ETFs Are Net Sellers of Baker Hughes (BKR) on Tuesday
This article first appeared on GuruFocus.
ETF flows have leaned toward selling Baker Hughes (BKR) for a second straight session, with the stock now on a two-day same-direction streak. On Tuesday, ETFs sold a net $26.8 million of the energy equipment maker. More funds traded the other way 26 ETFs were buying versus 13 selling but in smaller amounts, leaving the day net negative. The prior session on Oct. 26 saw a net $4.4 million sold, while Oct. 23 brought a net $5.2 million bought.
Every ETF and guru trade in BKR is tracked on the BKR guru trades page.
Which ETFs sold BKR on Tuesday?
The largest sellers by dollar value were DLN ($12.5 million), XLE ($8.0 million) and IWS ($2.2 million). In all, 26 ETFs added shares and 13 cut them.
DLN led the move with a $12.5 million reduction, followed by XLE at $8.0 million and IWS at $2.2 million; SPY trimmed $2.1 million and EPS $1.4 million. XLE still held 21,481,681 shares, a 2.82% weight, while SPY held 12,139,578 shares at a 0.09% weight. Baker Hughes sits in the Energy sector, in Oil & Gas Equipment & Services, with a market cap of $54.3 billion.
Have ETFs been buying or selling BKR lately?
Over the last 5 reported days, ETFs were net buyers on 1 and net sellers on 4, so the recent trend is mostly selling.
What does BKR do?
Baker Hughes Company is an energy technology company that provides products and services to the oil and gas industry and broader industrial markets. It operates through two segments: Oilfield Services and Equipment, and Industrial and Energy Technology.
Baker Hughes reported trailing-12-month revenue of $28.74 billion, up 3.6% over one year, with a gross margin of 22.9% and a net margin of 10.1%. Its P/E is 18.8, P/B 2.64 and P/S 1.89, alongside a $54.3 billion market cap. The GF Score stands at 74, and GF Value of $45.20 compares with a price of $54.66. The dividend yield is 1.62%, and the stock has returned 21.33% year to date.